Bitcoin and other major cryptocurrencies surge, Jane Street suspends "10 am Sell-off" after lawsuit

BlockBeats News, February 26th, the crypto market saw one of the strongest single-day rebounds recently, with Bitcoin, Ethereum, and Solana all rising, driving the overall crypto market cap up by about $170 billion to a total market cap of close to $2.5 trillion.

According to HTX market data, Bitcoin rose to nearly $70,000 at one point, Ethereum rose by over 13%, and Solana saw a gain of over 15%. This round of rebound ended the continuous pullback trend since the peak in October last year.

Market analysts believe that this rise is related to the recent insider trading lawsuit against market maker Jane Street. Some crypto market commentators have pointed out that over the past few months, there have been apparent daily sell-offs of Bitcoin around 10 a.m. Eastern Time, and after the lawsuit news was announced, this pattern seems to have suddenly stopped.

However, there is currently no public evidence to show that Jane Street did engage in systematic fixed-time Bitcoin sell-offs. Nevertheless, the market generally believes that the expectation of reduced potential selling pressure has boosted investor sentiment in the short term.